Gov Emmanuel Presents N597.8b Budget Of Industrialization, Poverty Alleviation

Governor Udom Emmanuel has presented a budget estimate of N597.800 billion for passage before the Akwa Ibom State House of Assembly for 2020.

Christened “Budget of Industrialization and Poverty Alleviation (2), the 2020 budget is made up of N111.225 billion for recurrent expenditure, N369.642 billion for capital expenditure and N116.933 billion                 –      Consolidated Revenue Fund Charges totaling N597.800 billion

According to Governor Emmanuel while presenting the budget yesterday at the chambers of the State House of Assembly, the 2020 estimate is predicated on an oil benchmark of $55 per barrel at a production rate of 2.18 million barrels per day, with an estimated exchange rate of N305/US$, in line with the National Budget benchmark projections.

The 2020 Budget is predicated on an oil benchmark of $55 per barrel at a production rate of N2.18 million barrels per day, with an estimated exchange rate of N305/US$, in line with the National Budget benchmark projections.” -Gov Udom Emmanuel

The governor listed the expected derivable sources for the budget funding to be Internally Generated Revenue (IGR)  –  N 52.556 billion, Statutory Allocation –  N 52.000 billion, Derivation Fund  –  N255.000 billion, Retained Revenue from Parastatals  –  N2.000 billion, Value Added Tax (VAT) – N 20.000 billion amounting –  N381.556 billion

He said that “Capital Receipts and Expenditure for the year 2020 is estimated at N369.642 billion as against the approved provision of N447.903 billion for 2019.”

“For the joy of serving our people we must endure every cross of difficulties, we must despise every shame, we must endure insults and blackmail, manufactured lies and subterfuge.But we  must remain faithful and true to our ONLY GOD and our people in providing honest and selfless service to advance their cause. That, to me, is the true calling and defining ingredient of leadership, and to this, I subscribe.

“Therefore, as we bind and heal the wounds of the election, and invoke the pan Akwa Ibom spirit, let us rise above the sleaze that are daily being thrown into the media space by a tiny percentage of our “tabloids of negativism” to quote the words of former US Vice President, Spiro Agnew and purge our hearts of hatred and animosity.

“Let me crave your indulgence, before I present to you our Estimates for the Fiscal Year, 2020, to start first by congratulating all of you on the victories recorded at the State Assembly elections last March. You ran a good race, you fought a good fight, you completed the course and you won the confidence of your constituents to continue to represent their interest and speak to their issues and concerns at the 7th Assembly. It could ONLY be GOD who made this possible.

“Therefore, our light of progress and development, peace and tranquility will continue to shine even brighter by the day, illuminating the contours of disunity and hatred in our land with the aroma of love, togetherness and brotherhood.

“We know that champions do not dwell on past victories, they look forward to new challenges. They seek out new mountains to scale. Champions seek new ways to expand their horizons and deepen their perspectives. The new challenge facing all of us now is sustaining and deepening the confidence which our people have reposed in us, and I dare say that so far, we haven’t betrayed the confidence, even though there is more work to be done.

“For the joy of serving our people we must endure every cross of difficulties, we must despise every shame, we must endure insults and blackmail, manufactured lies and subterfuge, but we  must remain faithful and true to our ONLY GOD and our people in providing honest and selfless service to advance their cause. That, to me, is the true calling and defining ingredient of leadership, and to this, I subscribe.

“These Eight-Point policy thrust rest squarely on our initial Five-Point Agenda  that shaped my First Term in office to wit; Job Creation, Poverty Alleviation, Wealth Creation,  Economic and Political Inclusion, and Infrastructural Consolidation and Expansion for continuous transformation of the State into an industrialized entity.”  Gov Emmanuel stated.

In listing some of his achievements, the governor added “Over 1000km of roads, including 40 bridges, have either been commissioned or are at various stages of completion in the three senatorial districts in the State.”

Under his completion agenda,  he reiterated the “Completion of the State Secretariat Annex; Erosion Control at Etim Umana, Uyo; Construction of a 2nd Airport Runway; Upgrade of the Airport main Runway to category 2; Construction of an underground drainage to control flood at Nsikak Eduok Avenue, Uyo; On-going construction of a 21-Storey Intelligent modern office complex.”

“Renovation of 85 flats at Wellington Bassey Army Barrack; Eket Urban Remodeling Project, On-going Construction of a befitting International Worship Centre for the State; Construction of fly over at Ikot Oku Ikono junction have commenced. Construction of ring road phase II linking Aka, Oron and Nwaniba roads, by University of Uyo permanent site has commenced.

“Construction of a befitting Traditional Rulers’ Chamber will commence soon; Reactivation and provision of more street lights around Uyo metropolis in addition to other beautification projects.

“Recently, we had our first Education Summit where critical issues affecting the sector were addressed and solutions proffered.  We remain dedicated to ensuring that our children are prepared and made ready for the challenges of the 21st Century world.

“The activities and regulatory processes towards the development of the Ibom Deep Sea Port is on-going, and, with God on our side, the Ibom Deep Sea Port will be operational within the lifespan of our Second Term in office,” he added.